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Despite fiscal worries, fund managers still invest in RP.
(From BusinessWorld (Philippines))
Byline: Iris Cecilia C. Gonzales
Despite creditors' worry that the government was mismanaging its finances, state efforts to address fiscal woes have been enough to convince fund managers to continue investing money in local markets, Bangko Sentral ng Pilipinas said over the weekend.
It noted that portfolio investments or so-called "hot money" still went up by $38 million to $515.9 million in 10 months to October, from $477.8 million in the same period last year.
The figure was buoyed by October inflows of $94.8 million, the highest monthly inflow recorded for the year.
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